Nigeria’s business environment remains laden with barriers preventing the youth from fully realizing their potential and assuming leadership positions in society. The major barriers include deficiencies in basic infrastructure necessary for faster development and greater productivity, such as roads, power supply, communication infrastructure, security, and access to capital. There are also many systemic barriers: low standard of education, ineffective government policies, inadequate training, and other economic, social, and political factors.
In this Feature Service article, Chinwe Mirian Onwubiko, winner of the second place in CIPE’s 2007 Youth Essay Contest in the ‘Entrepreneurship and Leadership’ category, explores the challenges that Nigerian youth face and talks about how Nigeria can make a better use of its abundant human and natural resources. Tapping these resources could help Nigeria achieve its business and investment potential, but it requires empowering the country’s youth.
“Entrepreneurship could become a major avenue for Nigeria to accelerate economic growth, create job opportunities, reduce the importation of manufactured goods, and decrease the trade deficit,” says Onwubiko. “Many young Nigerians aspire to be successful entrepreneurs, but their ability to make use of their skills remains highly constrained. (…) The failure of the government to provide a conducive entrepreneurial environment and to satisfy basic social needs exacerbates these problems. It is imperative, that policies are implemented to address these issues, with Nigerian youth at their core.”
Article at a Glance
- In spite of its abundant natural and human resources, Nigeria has long suffered from weak development.
- For Nigeria to prosper, young people must be given a chance to be leaders and entrepreneurs.
- The challenge is to create an environment where young entrepreneurs can lead the country’s development.
Published Date: December 15, 2008